Reasons Behind The Surge In Bitcoin Cash Price

Let’s examine the impressive market performance of Bitcoin Cash, as it’s currently outpacing other coins and reaching a record high over the last 6 months. One of the main reason for explosive growth is the expectation of the hardfork, which is due on May 15th. What’s going to change with the new update? Let’s take a look.

The first change will be the increase of block size from 8Mb to 32Mb, which is done to make transaction faster. While some experts see it as a valuable improvement, especially given the fast pace of crypto adoption, others claim that the network will never have so many transactions in the first place to necessitate such an increase in the block size. The critics point out that the number of BCH transactions has overpassed 1 Mb only on several occasions.

The second important change introduced with the new update will be the addition of simplified smart-contracts. While it may have its uses, some experts stay unimpressed, as other coins offer fully functional smart contracts features. Nevertheless, the update is eagerly expected by the community, as most enthusiasts see the new changes as beneficial.

There are other reasons for the BCH growth, too. Roger Ver is busy making partnership and promotion deals for Bitcoin Cash. As a result of his activity, a large mining pool Antpool is now promoting Bitcoin Cash, burning 12% of BCH network fees received for each block for the platform. According to the miner’s predictions, this will make the coin grow in value. Moreover, BCH got listed on Coinmama and started its social decentralized network Memo, which is currently in alpha-stage.